CFTC to Host Cryptocurrency CEO Forum to Discuss Digital Asset Market Pilot Program

On November 25th, as per The Block, South Korean tech behemoth Naver's financial arm, Naver Financial, has accomplished the development of a stablecoin wallet. It is currently in the final verification stage and is scheduled to be launched next month. This wallet project was developed in collaboration with the venture capital firm Hashed and the Busan Digital Asset Exchange (BDAN). It will support the stablecoinization of Busan's local currency "Dongbaek-jeon", enabling residents and visitors to exchange various fiat currencies for the stablecoin form of the local currency. The service will be incorporated into Naver Pay Wallet. However, full functionality will have to await the establishment of a local currency stablecoin regulatory framework in South Korea. Meanwhile, Naver is planning to merge with the parent company of South Korea's largest cryptocurrency exchange Upbit, Dunamu, through a share swap. Dunamu plans to be listed on Nasdaq as a wholly-owned subsidiary of Naver after t

On November 25th, NVIDIA's pre-market stock price fell by more than 4%. It was reported that this was due to Google's acquisition of Meta with its artificial intelligence chip TPU, which was worth billions of dollars.

On November 25th, according to CryptoQuant data, the Sharpe Ratio of Bitcoin has dropped below 0 and reached the lowest level since the FTX flash crash. Additionally, there have been several instances on the chart where the Sharpe Ratio dropped to or close to zero (in 2019, 2020, and 2022), frequently coinciding with Bitcoin's price bottom or a significant reversal. The Sharpe Ratio is a metric used to measure the risk-adjusted return of an investment. A Sharpe Ratio close to zero generally indicates high price volatility where the returns are not enough to compensate for the risk, which often happens at market bottoms or during capitulation (panic selling) phases.

On November 25th, according to MLM Monitoring, a whale deposited 32 million USDC into HyperLiquid. It used the Time-Weighted Average Price (TWAP) to sweep the spot market for HYPE with the intention of squeezing large short positions (about 5% from the liquidation price). Within 15 minutes, the whale bought HYPE worth $14.5 million. At the same time, it also placed short orders worth $7.05 million in the range of $34.5 to $36, trying to induce the short positions to be squeezed. Subsequently, traders shorted against its buy orders, resulting in the funding rate briefly surging to over -800% and triggering a spot premium of $0.4. The whale then sold 100,000 HYPE (worth $3.3 million) in the market, causing the price of HYPE to drop by 4% in a few seconds. The squeezed short positions now hold only 727,000 HYPE ($24 million), which is less than their previous position of 2.1 million HYPE ($67.1 million).

On November 25th, according to an official announcement, the Dual-Currency Yield Product of OKX has officially added support for OKB and ZEC. All relevant series of products were fully opened for subscription on November 24, 2025. The Dual-Currency Yield is designed to assist users in "buying low" or "selling high" of a designated currency at a target price while earning additional annualized yield. The newly added OKB and ZEC products both support the "selling high" and "buying low" strategies. Users can make purchases or sales at the target price based on the relationship between the expiration price and the target price and receive corresponding USDT or coin-based returns. In addition, OKX VIP users can enjoy a higher Dual-Currency Yield rate. The newly launched OKB and ZEC Dual-Currency Yield products are now synchronized within the App. Users can go to "Discover > Dual-Currency Yield > View More" to enter the corresponding currency page, choose "selling high" or "buying low", set

On November 25th, according to Defilama data, there was a rebound in Perp DEX trading volume over the past 24 hours. Hyperliquid experienced a significant increase in trading volume and currently ranks first, while Lighter dropped to second place. The current partial Perp DEX trading volume is as follows: Hyperliquid reported a 24-hour trading volume of approximately $98.7 billion, a TVL of around $43.6 billion, and an open interest of $63.8 billion. Lighter recorded a 24-hour trading volume of about $91.5 billion, a TVL of approximately $11.9 billion, and an open interest of $17.1 billion. Aster had a 24-hour trading volume of around $83.2 billion, a TVL of about $13.4 billion, and an open interest of $22.5 billion. EdgeX saw a 24-hour trading volume of approximately $59.1 billion, a TVL of roughly $4.53 billion, and an open interest of $7.29 billion. ApeX's 24-hour trading volume was about $27.9 billion, with a TVL of $48.36 million and an open interest of $32.74 million. Varia